2018-7-4 18:14 |
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal?
The general outlook for Bitcoin remains overwhelmingly bearish as the cryptocurrency is roughly 70% down from it’s all-time-high and most long-term indicators remain biased toward bears.
Bitcoin remains in the descending channel and prior to the most recent developments, posted a continual series of lower lows and lower highs.
Fortunately, this time a break higher was favored and the cryptocurrency gained to $6,681 on July 2nd.
Bitcoin Price: Looking Ahead Bitcoin looks set to test the triangle bottom at $6,767 but gains may be capped at the 50-Day MA ($7,100).
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Bitcoin (BTC) на Currencies.ru
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